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The English Premier League is experiencing a textbook case of hyperinflation

The big summer transfer headline belongs to Neymar and his record-breaking £198m move from Barcelona to Paris Saint-Germain. But, by anyone’s standards, the spending across English Premier League football clubs has been similarly jaw-dropping. With £40m fees now commonplace, last year’s record-breaking spend of £1.165 billion is almost certain to be smashed again before the transfer window closes on August 31.